Values...

Values of potential consumers are very important to marketers when creating an advertising campaign.  Marketers need to identify, understand and respect the values of their target market.  Ideally they hope to share value with their customers so that they can create loyalty and create trust between the brand and the customer.  However there is a difficulty with this as values vary depending on each individual customer.

To understand a person's values, it is necessary to determine what values are exactly.  Below are some definitions:

• Solomon et al (2010) states that "a belief about some desirable end-state that transcends specific situations and guides selection of behaviour... they do not apply in specific situations only".
• Dictionary.com (2011) describes a value as being "a relative worth, merit, or importance."
• According to businessdictionary.com (2011) it says that values are important and enduring beliefs or ideals which are shared by people, about what is good or desirable and what is not.  Values are a major influence on a persons behaviour and are also commonly used as a broad guideline in some situations to achieve a persons ultimate goal.

Two of these definitions describe values leading to achieving an 'ultimate goal.'  An example of this is if someone, is kind, generous and has respect which are known as Values then they will be able to reach their end state which is their ultimate goal of having a peaceful life. 

There are many different theories that explain consumer buyer decisions based on values.  Ries and Trout in 1982 tried to explain the reason why marketers should use and concentrate on the consumers values as well as Product Specifications. 

Ries and Trout said: "If we believe our overall values drive our behaviour, then we should be concentrating on the important, underlying motives that drive consumers to make product or service choices rather than simply product attributes."

Below are a few theories based around values and marketing:

1) Maslow's Hierarchy of Need - Maslow first introduced this concept of a hierarchy of needs in 1943.  According to about.com (2011) the hierarchy suggests that people are motivated to fulfil basic needs before moving onto other needs.  This hierarchy of needs is displayed as a pyramid.  The lower level of this pyramid are made of basic needs which are physical, such as water and food, whilst the more complex needs are found at the top of the pyramid which are more psychological and social and involve things such as; family and love.  At the top of the pyramid is personal esteem and feelings of accomplishment which Maslow emphasised the importance of, as it is the process of growing as a personal to help achieve individual potential.  To reach the top of this pyramid each level has to be achieved beforehand.  Therefore this is used within marketing as consumers can be targeted due to which stage they are at or trying to achieve.

Examples:

Moneysupermarket.com is an advert aimed for people within the safety level or working towards the safety level.  This advert offers different types of insurance to a person, ranging from house to car insurance.  This helps build security for the future.

This match.com advert is aimed for people who are entering the love/belonging level.  This advert is promoting a company who can help with finding an individual a partner.  This means that it is part of the love and belonging level as this is the step which based around, friendship, family and sexual intimacy.

2) Kahle's List of Values -  The list of values consists of nine traits that relate to differences in the way a person consumes.  These nine traits are as followed:

1. Self Respect
2. Excitement
3. Being Well Respected
4. Self- fulfillment
5. Sense of Accomplishment
6. Warm Relationship with Others
7. Security
8. Fun and Enjoyment
9. Sense of Belonging.

Many consumers will make buyer decisions based on what they want to portray themselves as being and what they may believe in.  Someone who is an animal rights activist would not buy goods that are tested on animals, whilst others would probably not mind.  A marketer will use the values of an individual to determine whether or not a product or service would be suited for them and if they could sell it to that person.  An adventure holiday package would attract a person who craved excitement, fun and enjoyment.  Whilst a childrens charity appeal on the television may attract a person who has values such as; self - respect, being well respected and also has values to have warm relationship with others.  This list of values can also lead to profiling of a target market.

3) Rokeach's Value Survey - This was developed in 1973 by Milton Rokeach, the value survey lists possible terminal and instrumental values.  Terminal values indicate life goals whilst the instrumental values indicate how the life goals can be achieved.  For example if a person has a terminal value of inner harmony then their instrumental values need to be; forgiving, helpful and honest.  If someone has a terminal value of freedom they will need to have instrumental values of; independent, courageous and capable.  Instrumental values are the way a consumer acts in order to achieve the life which they want.  This explains in depth the meaning of values and how they usually lead to an 'ultimate goal,' explained previously.

Marketers can use the aspects of terminal and instrumental when advertising their products.  Products may have instrumental values which lead to a terminal value (the end result).  For example if a products end result also known as terminal value is 'anti-wrinkle' then this helps attract consumers who have instrumental values such as; to look younger, to look more attractive, to hide impurities etc etc.  The list is endless.  The endless possibilities of terminal values is why many different industries such as; anti-wrinkle creams, make up etc is successful. This all leads to the laddering theory.

4) Laddering - According to Marketingpractice (2008) "Brand laddering involves progression from attributes to benefits to more abstract values of motivations.  Laddering involves repeatedly asking what the implication of an attribute or benefit is for the customer."  This basically means that laddering is a technique which helps identify the relationship between the functional product attributes and the desired end state of a consumer. There are 6 steps in laddering which are:

1. Concrete Attributes
2. Abstract Attributes
3. Functional Consequences
4. Psychological Consequences
5. Instrumental Value
6. Terminal Value

The laddering structure begins with attributes which then leads to benefits and finally to the values of a product.  The concept of laddering begins with the positioning of the product.  Firstly when a product is launched the main focus is on the attributes and benefits but once these basic functionality has been established for the consumer, the brand will begin to deepen the meanings and values of the brand.  A good example of laddering would be Dove.  Firstly they were known just simply for their good skincare range.  Once consumers realised this good functionally it then moved on presenting its actual values of "Real Beauty" to the audience.



The values in advertising is shown within the Advertisement construction, which is as follow:

• The Message Elements - This shows the Specific attributes or product features.
• The Consumer Benefit - This is when it shows the positive consequences of using the product this is where Instrumental Values are targetted.
• The Executional Framework - This is the overall style and tone of the advert.
• The Leverage Point - This is the way the message activates the Terminal Value by linking it with the product features.
• The Driving Force - This is the End Value.The Message Element - this is showing the specific attributes or product features.

Here are some links to Brands explaining their values:
Orange: http://vimeo.com/3774697
Eileen Fisher: http://www.youtube.com/watch?v=yQJSbakviHM
Virgin Alantic: http://www.youtube.com/watch?v=5PbXaxXACos

Every Human Being Has Values.... What Are Yours??